Description: 5 residential units

Type: Value-Add

Role: Owner/Developer

Location: 1125 19th Street, Santa Monica CA 90403

Estimated Completion: June 2025

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Raakel Real Estate successfully repositioned and expanded a four-unit residential property in Santa Monica’s highly desirable north of Wilshire, south of Montana neighborhood. The project involved a full-scale renovation of all existing units with modern finishes, high-quality fixtures, and brand-new appliances, bringing them to market standards. Additionally, the underutilized garage was converted into an accessory dwelling unit (ADU), increasing the total unit count to five and maximizing rental income. Upon completion, all units were leased at market rates, significantly improving cash flow and overall property value. A successful refinance was executed, allowing for the return of proceeds while maintaining a strong equity position. This project highlights Raakel Real Estate’s ability to unlock hidden value through strategic renovations and adaptive reuse, ensuring strong investment performance in prime locations.

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